Crypto Anyone worked out how to buy Shares with Bitcoin?

Discussion in 'Other Asset Classes' started by hammer, 5th Nov, 2017.

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  1. hammer

    hammer Well-Known Member

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    With bitcoin bubbling away, I thought it might be a good idea to convert some into shares.

    I was thinking that If I use the bitcoin as a currency and buy the shares directly i would avoid the CGT?

    There doesn't seem to be a single broker that accepts a direct bitcoin->ETF swap. They all want me to convert to cash first.

    Found a couple of international websites that will do it, but none of them instill confidence...

    Anyone had any success on this front?
     
    hammer, 5th Nov, 2017
    #1
  2. Konn

    Konn Well-Known Member

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    There is a reason why they want cash first. Bitcoin is speculative and they don't want to touch it. The day these places accept Bitcoin straight up is the day Bitcoin truly booms.
     
    Konn, 5th Nov, 2017
    #2
  3. ACMH16

    ACMH16 Well-Known Member

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    This won't avoid CGT.
     
    ACMH16, 5th Nov, 2017
    #3
  4. hammer

    hammer Well-Known Member

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    hammer, 5th Nov, 2017
    #4
    Peter P likes this.
  5. bumskins

    bumskins Well-Known Member

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    That won't work if you are disposing of Bitcoin for completely unrelated sets of shares.
     
    bumskins, 5th Nov, 2017
    #5